| Report Date | 17 April 2018 |
| Manager | NWQ Capital Management Pty Ltd |
| Fund Name | NWQ Fiduciary Fund |
| Strategy | Multi Strategy |
| Latest Return Date | March 2018 |
| Latest Return | 0.38% |
| Latest 6 Months | 8.43% |
| Latest 12 Months | 13.03% |
| Latest 24 Months | 12.19% |
| Annualised Since Inception | 7.23% |
| Inception Date | 01 May 2013 |
| FUM (millions) | AU$84 |
| Fund Overview | The NWQ Fiduciary Fund (Fund), managed by NWQ Capital Management, is a diversified multi-manager portfolio, modelled on NWQ's Fiduciary Model Portfolio. The principal investment objective of the Fund is to produce attractive positive returns irrespective of market direction. This is achieved through active allocations to selective fund managers that employ a variety of traditional and absolute return strategies. The Fund places emphasis on managers who demonstrate a rigorous and repeatable investment process that has delivered a strong track record.
The Fund aims to produce returns, after management fees and expenses of between 8% to 11% p.a. over rolling five-year periods. Furthermore, the Fund aims to achieve these returns with volatility that is a fraction of the Australian equity market, in order to smooth returns for investors. |
| Manager Comments | The NWQ Fiduciary Fund returned +0.38% in March, outperforming the ASX200 Accumulation Index by +4.15%. Since inception in May 2013, the Fund has returned +7.23% p.a. with a volatility of 4.76%. The Index, by contrast, has returned +6.83% annually over the same period with a volatility of 11.12%. The Fund's up-capture and down-capture ratios since inception show that, on average, the Fund has achieved positive performance in rising markets and significantly outperformed in falling markets.
NWQ noted that, against the challenging market backdrop, it was pleasing to see the Beta managers hedge out a portion of the market risk. In addition, as is to be expected when volatility increases, the opportunity set for the Alpha managers widened and, as a result, these managers made a meaningful positive contribution to overall Fund performance in March. |
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